KeyInvest offloads villages to ECH, Kalyra

South Australian home care and retirement living provider ECH Inc has acquired three retirement villages in Adelaide from KeyInvest.

The retirement villages include Winzor Retirement Estate in Salisbury, The Vistas in Para Vista and Gables of St Morris in St Morris.

ECH chief executive Dr David Panter said the acquisitions would help ECH support more people to live independently.

“These acquisitions directly align with our values and commitment to increase access for older people into affordable homes that remain fit for purpose as we age, that enable our residents to keep socially connected and physically active,” Dr Panter said.

“ECH has identified a need to increase housing choice in the northern and eastern suburbs of Adelaide and these villages will go a long way to supporting more people in these areas,” he said.

Modbury retirement village underway

 ECH’s $42.5 million vertical  village in Modbury with 77 two-bedroom independent living apartments  is now well underway.

As previously reported by Australian Ageing Agenda, the  village will incorporate a Montessori early learning centre.

Other features include allied health consulting rooms, a multipurpose gymnasium, café and community garden.

It is expected to  open late 2021.

Kalyra acquires two KeyInvest villages 

At the same time fellow SA aged care and retirement living provider Kalyra Communities has acquired two  villages from KeyInvest.

Woodside Lodge and McLaren Vale Lodge expands Kalyra’s  retirement living dwellings to 461.

It follows Kalyra’s  recent acquisition of the 24-unit retirement village Aldersey Grove Estate in February.

Kalyra Communities chief executive Sara Blunt said the organisation’s longstanding experience delivering a breadth of services meant residents at these villages could feel confident about the acquisition.

“Maintaining a strong sense of community within each village and respecting the individual and their right to live the way they choose are values that are very much aligned to Kalyra’s partnership philosophy,” Ms Blunt said.

“We have a highly-experienced team who are looking forward to getting to know the residents and ensure they feel part of the Kalyra community going forward,” Ms Blunt said.

Have we missed a merger or acquisition? Send us the details and an image to editorial@australianageingagenda.com.au